Bottomline Technologies (NASDAQ: EPAY), a leading provider of
cloud-based payment, invoice and banking solutions, today announced that
the underwriters of its previously announced convertible note offering
have fully exercised their overallotment option. As a result, the net
offering proceeds to Bottomline are estimated to be approximately $167
million after deducting the underwriting discount, other estimated
offering expenses and the net cost of the previously announced hedge and
warrant transactions that Bottomline entered into in connection with the
offering. The offering closed on Wednesday, December 12.

“The success of this financing leaves Bottomline well positioned to
capitalize on the significant growth opportunities in the markets we
address,” said Kevin Donovan, Chief Financial Officer at Bottomline.

Bottomline expects increased operating performance to offset the
dilutive impact of the financing. As a result, the company is
reconfirming its earnings guidance for fiscal 2013.

About Bottomline Technologies

Bottomline Technologies (NASDAQ: EPAY) provides cloud-based payment,
invoice and banking solutions to corporations, financial institutions
and healthcare organizations around the world. The company’s solutions
are used to streamline, automate and manage processes involving
payments, invoicing, global cash management, supply chain finance and
transactional documents. Organizations trust Bottomline to meet their
needs for cost reduction, improved operating efficiencies, competitive
differentiation and optimization of working capital. Headquartered in
the United States, Bottomline also maintains offices in Europe and
Asia-Pacific. For more information, visit www.bottomline.com.

Bottomline Technologies and the Bottomline Technologies logo are
trademarks of Bottomline Technologies (de), Inc. which may be registered
in certain jurisdictions. All other brand/product names may be
trademarks of their respective owners.

Cautionary Language

This press release may contain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995,
including the statement that we expect increased operating performance
to offset the dilutive impact of the convertible note financing. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various important factors,
including without limitation, competition, market demand, technological
change, strategic relationships, recent acquisitions, international
operations and general economic conditions. For additional discussion of
factors that could impact our financial and operational results, refer
to our Form 10-K for the fiscal year ended June 30, 2012 and any
subsequently filed Form 10-Qs, Form 8-Ks or amendments thereto. Any
forward-looking statements represent our views only as of today and
should not be relied upon as representing our views as of any subsequent
date. We do not assume any obligation to update any forward-looking
statements.

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